Posts

Ngozi Okonjo-Iweala’s TED Talk on Doing Business in Africa

Ngozi Okonjo-Iweala’s TED Talk on Doing Business in Africa
Ngozi Okonjo-Iweala, a director of the World Bank, was Nigeria’s Finance Minister and then briefly Foreign Affairs Minister from 2003 to 2006, the first woman to hold either position. During her tenure as Finance Minister, she worked to combat corruption, make Nigeria’s finances more transparent, and institute reforms to make the nation’s economy more hospitable to foreign investment.

In her TED Talk, she told many stories about changing Africa and how African people say no to corruption and everyone outside Africa should give more credibility and invest more in Africa.She stressed that we should do more business in Africa instead of just aiding Africa. And also, Africa should pay more attention to expand privatization and the government should increase more financial management and democracy.

– Caiqing Jin

Source: TED Talk

/by
, , ,

How To Stop Climate Finance Corruption

How To Stop Climate Finance CorruptionLast December, the non-governmental organization Transparency International released its Corruption Perceptions Index (CPI) that documents levels of perceived public sector corruption in many countries. This document was published at the same time as the UN climate conference in Qatar. These two events are related because many of the countries with the highest ratings of corruption in the CPI are the countries that need the most urgent funding for climate change-resilient infrastructure. The United Nations cannot afford to let climate change finances be diverted by corruption. The two most important things to keep in mind when investing in climate finance are that anti-corruption is cheaper than corruption and that the time to act is now.

Taking climate funding away from corrupt countries and giving it to nations that are perceived to be less corrupt is not an option. The countries that were originally allocated funds during the UN conference need and deserve them. We must then focus on how to best reduce the corruption of climate financing in these poverty-stricken countries. This takes more money in the short-term but will pay off in the long run. Installing accountable policies, systems and personnel is an important step to making sure that the money is not squandered. The monetary gain of investing more money, in the beginning, is evident in a recent study of North Africa by the International Institute of Applied Systems Analysis. In the current corrupt environment, a particular solar power project was projected to cost $2 trillion dollars. However, when they adjusted for a 5% reduction of corruption in the region, the price tag for the project dropped to $750 billion. This huge monetary difference, in the long run, would more than cover the necessary funds to set up a less corrupt system now.

There is no time to lose when installing anti-corruption systems. Climate finance initiatives are a new phenomenon. This makes it easier to tackle problems with corruption than it will ever be. If we can make sure that the system is as secure as possible in its infancy, then there will be no need to do the tedious business of trying to untangle and rebuild a system that never worked efficiently. The keys to fighting corruption are transparent payrolls, budgets and decision-makers, explanations of why decisions are made, input from citizens and monitoring by independent sources. These are technical necessities for an anti-corrupt system, but more importantly, there must be a political will to make them a reality. Climate finance could change the face of our future for the positive, but it is up to people and governments to invest in it.

– Sean Morales

Source: AlertNet
Photo: SABC News

/by
, ,

US Troops Removal Affects Aid in Afghanistan

US Troops Removal Affects Aid in AfghanistanLast week President Obama announced that he plans on bringing home 34,000 troops from Afghanistan within the next year. The presence of American troops in Afghanistan over the past 12 years has served more than just a military purpose, but also a humanitarian one as well.

Despite the corruption and backlash from the Taliban, U.S. soldiers have been successful in creating a much safer community for the Afghan population through constant patrolling on both lands and in the air. They have also provided the necessary institutions to provide health care and educate young girls. However, with the removal of most of the remaining troops, certain experts and members of Congress are worried that the $15 billion aid program for development and aid in Afghanistan will have been a wasted effort.

Because of the United States’ current economic standing, continuing to fund civilian-focused programs in Afghanistan is seen as creating a dependency on American assistance. In order to convince Congress and the President to at least gradually remove U.S. troops and continue to provide a small amount of monetary aid, Anthony H. Cordesman from the Center for Strategic and International Studies suggests that those in support of aid must quickly plan out their selling points and present a case to Congress that shows social and economic improvements in Afghanistan.

The argument against continuing aid is the belief that after all these years, the Karzai government still remains unaccountable and unable to keep corruption out of its administration. Those in support of aid believe that the Afghan people need more time to adapt if they are to begin independently managing their own affairs.

Over concern for the safety of Afghan women and girls from the Taliban, many senators, both Republican and Democrat, have come together to fully support the continuance of civilian assistance.

The main priority for all is to make sure that the billions of dollars that have been put into rebuilding Afghanistan and the American lives lost in doing so will not go wasted. All sides of the issue also understand that aid can no longer be given at the rate it has been for the past decade.

Reaching a middle ground that can guarantee the safety of Afghans but at the same time encourage them to actively build upwards from the foundations already set seems plausible and will hopefully remain an important concern while troops are being removed.

– Deena Dulgerian

Source: The New York Times

/by